Lagoda Investment Management, L.P.

Portfolio Overview

Lagoda Investment Management, L.P. reported a significant contraction in portfolio value for the quarter ending September 30, 2025. The total assets under management (AUM) decreased by 35.0%, dropping from $176.51 million to $114.78 million. This reduction was driven by a combination of active deleveraging—evidenced by the exit from 11 positions—and likely market depreciation in remaining holdings.

The portfolio is currently highly concentrated, consisting of only 13 hold...